Joint Stock Company "ALROSA" (PJSC), the largest in the world in terms of diamond production, has signed an agreement with «KGK Diamonds (I) Private Limited » a partnership for the development of the production of cut diamonds in the Eurasian Diamond Center in Vladivostok. This was reported in a press release received by Rough & Polished.
In accordance with the agreement, "ALROSA" KGK will assist in the establishment of diamond cutting company in the "Diamond Center", the Far East and will supply rough diamonds with existing contractual obligations to other customers.
"ALROSA" supplies rough diamonds to KGK c 2008. The annual purchase of natural diamonds KGK group of companies from "ALROSA" for diamond production in Russia and abroad is more than 200 million US dollars.
KGK its part provides a legal person, rent or purchase premises, training and recruitment, procurement and installation of equipment, adjustment of production processes, financing operations of the newly created legal entity, including for the purchase of rough diamonds.
Creating a new cutting and polishing production KGK Vladivostok is tentatively scheduled for July 2017. The output of the new enterprise at full capacity (cut at least 15,000 carats of natural diamonds per year) is planned for 4 years from the start of work. In the first year of the new company will operate 150 people, in the following years up to 500 people.
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2 comments:
To stimulate trade and reduce reserves in the mining and cutting segments in the next year, jewelry sales are needed that exceed forecasts. In 2015, the situation on the market remains difficult. The mood is pessimistic, as the accumulation of stocks continues in the middle segment, and low demand raises serious concerns. All hopes - to the retail market in the USA; The industry is stepping up its efforts to promote jewelry through campaigns such as "Diamond is Forever" De Beers and advertising a ring with two stones by Signet Jewelers. To stimulate trade and reduce reserves in the mining and cutting segments in the next year, jewelry sales are needed that exceed forecasts. In 2015, the situation on the market remains difficult. The mood is pessimistic, as the accumulation of stocks continues in the middle segment, and low demand raises serious concerns. All hopes - to the retail market in the USA; The industry is stepping up its efforts to promote jewelry through campaigns such as "Diamond is Forever" De Beers and advertising a ring with two stones by Signet Jewelers. To stimulate trade and reduce reserves in the mining and cutting segments in the next year, jewelry sales are needed that exceed forecasts. In 2015, the situation on the market remains difficult. The industry is stepping up its efforts to promote jewelry through campaigns such as "Diamond is Forever" De Beers and advertising a ring with two stones by Signet Jewelers. To stimulate trade and reduce reserves in the mining and cutting segments in the next year, jewelry sales are needed that exceed forecasts. In 2015, the situation on the market remains difficult. The industry is stepping up its efforts to promote jewelry through campaigns such as "Diamond is Forever" De Beers and advertising a ring with two stones by Signet Jewelers. To stimulate trade and reduce reserves in the mining and cutting segments in the next year, jewelry sales are needed that exceed forecasts. In 2015, the situation on the market remains difficult.
Prices for colored diamonds were stable during the third quarter of 2015, while prices for white diamonds continued to decline. These are the data of the Fancy Color Research Foundation (FCRF), which the Rapaport portal cites.
The index of fantasy-colored diamonds remained virtually unchanged between July and September 2015, despite the decline in transaction volumes, the FCRF reported, which publishes this index.
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